EANS-News: Lenzing AG Lenzing traces its fibers with blockchain technology
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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? Lenzing enters the age of digital traceability
? Transparency ensured from wood to the finished garment
? Partnership with Hong Kong based TextileGenesis(TM)
Research & Development
Lenzing - The Lenzing Group, world market leader in specialty fibers made from
the renewable material wood, is strengthening its leading position in
sustainability in the textile industry. Lenzing will use blockchain technology
to support its TENCEL(TM) branded fiber business, ensuring complete transparency
and traceability for brands and consumers of its fibers in the finished garment.
After evaluating various initiatives Lenzing decided to join the platform of the
Hong Kong based technology company TextileGenesis TM to accomplish this
ambition.
Consumers increasingly want to understand the ingredients and suppliers of the
products they buy, requesting a new level of transparency and traceability. The
supply chain transparency from wood to garment and home textiles will enable all
customers and partners to identify TENCEL(TM) fibers and the respective wood
source in each production and distribution step. Thanks to a QR code on the
final garment, consumers will be able to detect the origin of the clothes they
intend to buy.
"With LENZING(TM) ECOVERO(TM) branded fibers Lenzing was the frontrunner in
physical traceability and is now entering the age of digital traceability. This
milestone in transparency is a further strong commitment to sustainability",
says Stefan Doboczky, Chief Executive Officer of the Lenzing Group. "Together
with TextileGenesis(TM), we aim to create an unmatched level of transparency for
brands and consumers. With this step Lenzing will further help to green up the
textile industry."
Lenzing will carry out several pilot tests over the next few months involving
partners along the entire value chain. Lenzing expects the platform to be fully
operational as of 2020.
Photo download:
https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=sTL23Pxv0313 [https://
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PIN: sTL23Pxv0313
Further inquiry note:
Lenzing AG
Mag. Waltraud Kaserer
Vice President Corporate Communications & Investor Relations
Tel.: +43 7672 701-2713
mailto:w.kaserer@lenzing.com
end of announcement euro adhoc
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issuer: Lenzing AG
A-A-4860 Lenzing
phone: +43 7672-701-0
FAX: +43 7672-96301
mail: office@lenzing.com
WWW: http://www.lenzing.com
ISIN: AT0000644505
indexes: ATX, WBI
stockmarkets: Wien
language: English